Electronic Arts Reports Moderate Revenue Growth in Q3 2024
Electronic Arts (EA) has released its financial results for the third quarter of fiscal year 2024, showing a moderate increase in revenue. The company reported revenues of $1.95 billion, representing a 3% year-on-year growth. Net income reached $290 million, a 42% increase compared to the previous year. Order value amounted to $2.37 billion, reflecting a 1% growth compared to the previous year.
The most significant growth was seen in EA Sports FC, which experienced a 7% increase in net orders compared to the previous year. EA’s Chief Financial Officer, Stuart Canfield, emphasized the positive impact of the new FC brand on growth momentum.
It is worth noting that EA’s live services achieved a record-breaking revenue of $1.71 billion in the third quarter, signifying a 3% growth compared to the prior year. Live services now account for 73% of EA’s total revenue.
In contrast, full game sales declined by 5% compared to the previous year, amounting to $654 million, and by 27% compared to the third quarter two years ago.
During the third quarter, EA released titles such as NHL 24, UFC 5, and WRC 23. These were accompanied by NHL 23 and Need for Speed Unbound from the previous year, and NHL 22 and Battlefield 2042 from two years ago.
Looking ahead, EA has slightly raised its full-year forecast, with estimated net revenue ranging from $7.41 billion to $7.71 billion. The projected net income falls between $1.15 billion and $1.27 billion.
Frequently Asked Questions (FAQ)
What are EA’s key financial results for Q3 2024?
– Revenues: $1.95 billion (3% year-on-year growth)
– Net income: $290 million (42% year-on-year growth)
– Order value: $2.37 billion (1% year-on-year growth)
Which EA division saw the most growth in Q3 2024?
EA Sports FC experienced a significant increase in net orders, achieving a 7% growth compared to the previous year.
What was the performance of EA’s live services in Q3 2024?
EA’s live services achieved a record-breaking revenue of $1.71 billion, marking a 3% growth compared to the prior year. Live services now account for 73% of EA’s total revenue.
How did full game sales perform in Q3 2024?
Full game sales declined by 5% compared to the previous year, totaling $654 million, and by 27% compared to the third quarter two years ago.
What titles were released by EA in Q3 2024?
EA released NHL 24, UFC 5, and WRC 23 during the third quarter. These were accompanied by NHL 23 and Need for Speed Unbound from the previous year, and NHL 22 and Battlefield 2042 from two years ago.
What are EA’s revised forecasts for the full fiscal year?
EA now predicts that net revenue will range from $7.41 billion to $7.71 billion, with projected net income falling between $1.15 billion and $1.27 billion.
Where can I find more information about Electronic Arts?
For more information about Electronic Arts, visit their official website: Electronic Arts.
The source of the article is from the blog rugbynews.at